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TREAS/OTS

RIN: 1550-AC23

Publication ID: Spring 2009

Title: Prohibited Service at Savings and Loan Holding Companies
Abstract: OTS adopted an interim final rule implementing section 710(a) of the Financial Services Regulatory Relief Act of 2006, which added a new section 19(e) to the Federal Deposit Insurance Act (FDIA). Section 19(e) of the FDIA prohibits any person who has been convicted of any criminal offense involving dishonesty or a breach of trust, or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such an offense from holding certain positions with respect to a savings and loan holding company (SLHC). OTS is adopting a final rule implementing section 19(e) of the FDIA. The final rule describes the actions that are prohibited under the statute and describes procedures for applying for an OTS order granting a case-by-case exemption.
Agency: Department of the Treasury(TREAS)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: Undetermined	Unfunded Mandates: No
CFR Citation: 12 CFR 509 12 CFR 585
Legal Authority: 5 USC 504 5 USC 554 to 557 12 USC 1464 12 USC 1467 to 1467a 12 USC 1468 12 USC 1817(j) 12 USC 1818 12 USC 1820(k) 12 USC 1829(e) 12 USC 3349 12 USC 4717 15 USC 78(l) 15 USC 78o-5 28 USC 2461 note 31 USC 5321 42 USC 4012a 12 USC 1462 to 1462a 12 USC 1463

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Interim Final Rule	05/08/2007	72 FR 25948
Interim Final Rule Comment Period End	07/09/2007
Interim Final Rule Effective	02/29/2008
Final Rule	06/00/2009

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Related RINs: Previously reported as 1550-AC14
Agency Contact: Donna Deale Director of Holding Companies and Affiliates Department of the Treasury Office of Thrift Supervision 1700 G Street NW., Washington, DC 20552 Phone:202 906-7488 Marvin L. Shaw Counsel Department of the Treasury 250 E Street, SW, Washington, DC 20219 Phone:202 927-9096